How Much Does A Commercial EV Charging Station Cost?

If you’re a business owner looking to take a step into the future, you might be considering the installation of commercial charging stations for electric vehicles. The rise of electric vehicles is more than a trend; it’s a shift in how we think about transportation. But what does it cost to be part of this exciting movement? Chicago EV is here to break it down for you.

The cost of an EV charging station can vary widely depending on the type of charger you choose. At ChicagoEV, we recommend Enel X commercial chargers for their reliability, user friendliness, and cost effectiveness compared to their competitors. Here’s how much commercial EV chargers tend to cost based on the charger level.

• Level 1 Chargers: These are the most basic and least expensive option, utilizing a standard 120-volt outlet. They are suitable for some commercial uses but charge slowly. Costs usually start around $300-$600.
• Level 2 Chargers: A more powerful 240-volt system that charges much faster. These are more commonly used in commercial settings and generally range from $1,500 to $6,000.
• DC Fast Chargers: These are the high-powered chargers that provide rapid charging. They are the most expensive option and are typically used in public charging stations. Costs can range from $10,000 to $40,000 or more.

As with any infrastructure investment, commercial EV charging stations come with associated ongoing costs such as electricity, maintenance and repairs, subscription fees, and insurance. However, various incentives can offset these costs such as federal, state, and local incentives, making the transition to green energy solutions even more appealing for businesses.

Ongoing Costs

• Electricity Costs: The primary ongoing cost is the electricity to power the stations. Depending on your electricity provider and tariff, you might be charged variable rates during peak and off-peak hours. Some utilities impose demand charges, which are additional fees for using a lot of electricity in a short period.
• Maintenance and Repairs: Over time, wear and tear, along with occasional technical glitches, can necessitate repairs. An annual maintenance contract or occasional technician visits might range from $200 to $2,000 annually, depending on the number and type of chargers.
• Network Subscription Fees: Some advanced charging stations come with networking capabilities, allowing owners to manage charging remotely, set pricing, or monitor usage. This feature usually comes with a monthly or annual subscription fee, which might range from $100 to $500 per year per charger.
• Insurance: Some businesses opt to insure their charging stations against damages, theft, or liability. The cost can vary widely based on the location, number of stations, and specific coverage, but businesses might expect to pay anywhere from $300 to $1,500 annually.

Incentives

• Federal Tax Credits: The U.S. government has previously offered tax credits for businesses that install EV charging stations. The exact amount can vary, but businesses could recoup up to 30% of the installation costs, up to a certain limit.
• State and Local Incentives: Many states, including Illinois, have incentive programs to promote EV infrastructure. These might include tax breaks, grants, or rebates. In the Chicagoland area, specific incentives could reduce the charger installation costs by a significant margin.
• Utility Company Incentives: Some local utility companies offer incentives, such as discounted electricity rates during off-peak hours or rebates for installing charging stations. Partnering with your utility can yield substantial ongoing savings.

At Chicago EV, we understand that every business is unique. That’s why we offer customized solutions tailored to your needs, location, and budget. We are not only a leading provider of commercial EV chargers in the Chicagoland area but also specialize in installation and ongoing service.